EAB Private Equity to accelerate the international growth of wind turbine maintenance services provider Bladefence.
EAB Private Equity, now part of Evli, has made an investment in Finnish company Bladefence, which provides blade inspection, maintenance, and repair services for wind turbines. Wind power is now being built at a record pace, which is also driving demand for maintenance services and makes Bladefence an attractive investment. EAB Private Equity will become a significant minority shareholder in the company. Janneniska Ltd, the founder of Bladefence, and key personnel will continue as owners of the company.
Headquartered in Vantaa, Bladefence is a pioneer in its field, providing services to wind farm owners and operators as well as to equipment manufacturers in Europe, the US and Canada. Its key competitive advantage is its own fleet of equipment and experienced staff, which enables efficient maintenance processes and rapid responses for expansive wind farms. Major global companies, such as wind turbine manufacturers, are long-standing customers of Bladefence. In Finland, the customer base includes, among others, Suomen Hyötytuuli.
“Blade maintenance work is carried out at great heights and in very challenging conditions. Replacing blades is very expensive, which is why owners are trying to prolong their service life by maintaining their equipment more systematically. Failure to carry out proper maintenance significantly reduces the ability to reap the full benefits from wind energy. Preventive maintenance is the key to a successful wind farm operation and maximises the efficiency of turbine blades throughout their life cycle”, says Kimmo Kohtamäki, CEO of Bladefence.
The company is aiming for strong growth in North America, where wind farms are typically larger than elsewhere and where its competitive advantage is most prominent. After China, the US is the world’s largest wind power market in terms of capacity, and in 2020 North America also overtook Europe in terms of new wind power deployment.
“The significant need for maintenance of existing wind turbines, the rapid pace of new wind turbine construction and the focus on energy independence and a carbon-neutral future create an excellent basis for the growth of Bladefence”, says Kalle Kekkonen, Managing Partner at EAB Private Equity.
Back to transactions